No income tax from private universities for now
Published:
2023-04-07 01:46:00 BdST
Update:
2024-05-05 21:57:54 BdST
Live Correspondent: No private universities will be paid income tax for now, as per Appellate Division of the Supreme Court verdict.
An eight-member HC bench, led by Chief Justice Hasan Foez Siddique, pronounced the judgement on Thursday dismissing the review petition.
On June 28, 2007, National Board of Revenue (NBR) issued a gazette notification, imposing the 15 per cent income tax on private universities, to be effective from July 1 that year.
In another gazette notification, the NBR imposed the same 15 per cent income tax on private universities, medical, engineering colleges and ICT institutes.
After that, different universities filed 46 writs challenging the government decision.
On September 5, 2016, the High Court found the notifications illegal, thus ordering the NBR to refund the money realized in line with the government circulars.
Subsequently, the state pleaded to be allowed to file a leave to appeal with the apex court, which was finally granted on February 9, 2021.
On September 5, 2016, the High Court found the notifications illegal, thus ordering the NBR to refund the money realized in line with the government circulars.
Subsequently, the state pleaded to be allowed to file a leave to appeal with the apex court, which was finally granted on February 9, 2021.
Dhaka, 06 April (campuslive24.com)//CM
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